TheCable

Nigeria and Chad have agreed to set up a joint business council to improve bilateral trade between both countries.

Daniel Awurum, head of press and protocol at the Nigerian Investment Promotion Commission (NIPC), announced this in a statement on Monday.

Awurum said the council would drive the actualisation of tangible investments, thereby improving economic growth and development.

He said the joint council is the outcome of a meeting between the management of NIPC and a business delegation from the Republic of Chad led by Sadique Abubakar, Nigeria’s ambassador to Chad, and his counterpart, Abakar Saleh Chiami, ambassador of Chad to Nigeria.

Speaking on the development, Emeka Offor, NIPC acting executive secretary/chief executive officer, said: “NIPC will facilitate the setting up of the joint business council in accordance with our mandate – to encourage, promote and coordinate investments in the country.”

On his part, Chiami said both countries recognised the potential value of the informal trade activities across their borders, hence the need to formalise business activities.

Chiami, while making a case for setting up the joint business council, suggested that NIPC should translate its book of states into the French language.

This, he said, would enable Chadian entrepreneurs to understand and appreciate Nigeria’s investment environment.

In his remarks, Abubakar said he had been keen on increasing trade and investment between both countries since he assumed office in January 2021.

“I think we can also look forward to how we can promote trade through cargo flights between both countries,” he added.